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When ownership shows up at zoning meetings, the main risk they seem to be concerned about is accidentally letting someone build enough housing. Heaven forbid!
by smallmancontrov 4mo ago
When ownership shows up at zoning meetings, the main risk they seem to be concerned about is accidentally letting someone build enough housing. Heaven forbid!
- fooker 4mo agoAre you perhaps too privileged to have seen situations where owning land is a liability? As we speak, close to a billion people are in the middle of ongoing wars. There are entire countries where land is worthless. Ukraine has several hundred square kilometers of land with a thick covering of fiber optic cables from drones.
- smallmancontrov 4mo agoWhy on Earth should I feel the slightest obligation to make whole some jerk who bought the right to kick me off a piece of land and lost money when that right became less valuable? I have a much better idea: point, laugh, and say "sucks to suck!"
- fooker 4mo agoI did not say anything about how you should feel. That's up to you. I'm telling you why the system works like it does now. You can, of course, choose to deliberately not understand it.
- smallmancontrov 4mo agoIf you didn't mean to imply that I should feel an obligation to compensate the risk of a capital loss, what was your argument? No, the system works the way it does because it was built by the rich, for the rich, to ensure they had a way to get paid for being rich. You can, of course, choose to deliberately not understand that.
- fooker 4mo agoThat's an amusing misunderstanding of history. I can see why you'd feel this much animosity if you strongly believe this. Good luck changing things without understanding how they work though.
- smallmancontrov 4mo agoEnjoy the high interest rates <3
- triceratops 4mo ago> I should feel an obligation to compensate the risk of a capital loss Where did they say that?
- smallmancontrov 4mo ago"Landlords ... assume risk on your belalf."
- fooker 4mo agoPerhaps you misunderstood what assuming risk means?
- smallmancontrov 4mo agoNo, you just wish I misunderstood.
- triceratops 4mo agoThat means the opposite of what you're telling everyone it means. When someone assumes risk it means the risk is theirs. You're debating the meaning of English words right now. I take your overall point about rich people making laws. But on this specific point you're wrong. Take the L.
- cucumber3732842 4mo agoA better first world example is laws change and now this site where you were gonna build self storage for 20yr before selling out to an apartment/office developer is now worthless
- fooker 4mo agoWe have seen forest fires burning city blocks in west coast cities in the recent past, can't get more first world than that. If you think insurance will save you, it might not if no one is willing to insure your property (large true in California nowadays) or the insurance company goes bankrupt in a crisis (happens pretty much all the time).
- duped 4mo agoAnecdata here but I'm a landlord in an area with low 10s of thousands of residents and low 100s of rental units. I absolutely do not care about new housing being built, other than encouraging it because economic development of the town is good for everyone. My neighbors, the homeowners who don't rent, are typically on the other side. And it's not unreasonable to want to keep SFH neighborhoods predominantly SFH. My main risks have have absolutely nothing to do with more housing. It's more physical risk to the property and depreciation.